Dogecoin and Tron holders jumping ship, consider new coin: here’s why

Dogecoin (DOGE) declined due to heightened network activities, while Tron (TRX) contracted even after partnering with Pundi X. Consequently, investors are now exploring a new decentralized finance (defi) project, BorroeFinance (ROE). 

Dogecoin falls despite rising network activities

Dogecoin and Tron holders jumping ship, consider new coin: here's why - 1

There has been a recent increase in activity on the Dogecoin blockchain, with rising transaction volumes attributed to “ordinals” and new tokens created on Dogecoin’s platform. Shibetoshi Nakamoto, the founder of Dogecoin, acknowledged this growth in response to a pseudonymous user.

You might also like: Netflix director allegedly YOLOs $4m of allocated series budget on Dogecoin

In May 2023, Dogecoin enabled the creation of “DRC-20” tokens on its network. However, many projects launching are struggling with adoption or posting sharp declines.

Over the past week, the trading activity related to experimental tokens has shifted towards Dogecoin. The total trading volume has fallen by almost 70%, from approximately $830 million to $247 million between Nov. 22 and Nov. 26. 

DOGE prices fell by 2.2% during this time, settling at $0.078.

BorroeFinance attracts Dogecoin And Tron investors

With the recent struggles of DOGE and TRX, investors are turning their attention to ROE as a potential recovery option.

BorroeFinance aims to empower web3 users and content creators to generate cash flow from their contributions to the ecosystem. 

You might also like: Chainlink sharks accumulating, Borroe.Finance gains momentum while Cardano dumps

It has a marketplace where owners of outstanding invoices, subscriptions, and royalties can trade them for funds. 

BorroeFinance mints future earnings as non-fungible tokens (NFTs) and sells them at a discounted price to interested buyers at the seller’s request.

In stage 2 of the BorroeFinance presale, ROE is trading at $0.015. 

However, with supporters expecting more growth, the project has also been attracting DOGE and TRX investors.

Tron partners with Pundi X

Tron recently partnered with Pundi X, a blockchain-based POS solutions provider, to integrate the XPOS platform. 

The goal is to incorporate digital currencies with conventional commerce, extending the advantages of blockchain technology to a broader range of people.

You might also like: TRON targeting top 10 spot, could flip Dogecoin

Users can now easily manage their assets and perform transactions using the XPOS device, which supports the Tron ecosystem, including TRX and TRC-20 tokens. 

Despite this, TRX prices initially fell before recovering. According to experts, the coin might drop to the $0.10 region in the coming sessions.

Learn more about BorroeFinance (ROE) here:

Visit BorroeFinance Presale | Join the Telegram Group | Follow BorroeFinance on X

Read more: Cardano may rally; FTX Token and Borroe Finance register gains

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Shiba Inu Whales and Dogecoin Whales Cash Out, Is Tamadoge a Better Investment

Image
Throughout 2022, Shiba Inu and Dogecoin have experienced huge price corrections, leading whales to cash out of the popular meme coins. While investors are looking for alternative meme investments, many are looking to invest in Tamadoge - a popular play-to-earn (P2E) cryptocurrency project.  Shiba Inu and Dogecoin Correction Since the beginning of 2022, the best shitcoins have been going through a large-scale price correction. Notably, Shiba Inu (SHIB) and Dogecoin have both witnessed huge price dips and have not performed as well as some of the other top cryptocurrencies. After starting August 2022 at $0.000012, Shiba Inu increased by 44% to $0.00001739. However, the cryptocurrency corrected back to the $0.000012 mark by the end of the month. On the other hand, Dogecoin also received a 24% price increase in the first 2 weeks of August before losing 27% of its valuation.  Shiba Inu and Dogecoin are trading 85% and 91% below their all-time high (ATH), respectivel...
Read more

Asia's weekly TOP10 crypto news (May 29 to June 4)

Image
Author：Crescent Editor：Colin Wu 1. Japan’s Weekly Summary 1.1 MUFG, Japan’s Largest Bank, to Issue Local Bank-backed Stablecoins on Multiple Public Blockchains link On June 3rd, according to Ledger Insights, MUFG, Japan’s largest bank, announced that its Progmat Coin solution will issue a local bank-backed stablecoin on multiple public blockchains, including Ethereum, Avalanche, Cosmos, and Polygon. This initiative is in its early stages, and the exact timeline for the release has not been determined yet. 1.2 BitFlyer Announces Restrictions on Cryptocurrency Deposits and Transfers, Limited to Exchanges and Wallets Complying with Travel Rule link On May 30th, according to Coinpost, the Japanese cryptocurrency exchange BitFlyer announced that starting from 15:00 on May 30th, it will only support cryptocurrency deposits and transfers from exchanges or wallets that comply with travel rules, such as MetaMask. The supported types of cryptocurrencies under the travel rules are also limited, ...
Read more

Introduction to THE APEX POWER (TAP) | The Best Renewable Energy Solutions

Image
The world is facing a major environmental crisis caused by the use of non-renewable energy sources. These sources of energy, such as coal and oil, are harmful to our environment and contribute to climate change. As a result, there is a growing need to transition to renewable energy sources, which are sustainable and environmentally friendly. Renewable energy sources such as solar power, wind power, and hydro power are gaining popularity around the world. The adoption of these energy sources is not only beneficial for the environment but also for businesses and individuals looking to reduce their energy costs. The Apex Power (TAP) is a company that specializes in renewable energy solutions. They provide sustainable energy solutions to businesses and individuals looking to reduce their carbon footprint and transition to green energy. Solar Power Solar power is a renewable energy source that harnesses the energy of the sun to produce electricity. It is one of the most popular fo...
Read more